Should I own my Costa Rica property through a corporation?

When considering property ownership in Costa Rica, using a corporation as the legal entity for holding real estate has been a common practice for both locals and foreigners for many years. The decision to use a corporation for property ownership in Costa Rica is influenced by legal, financial, and practical considerations.

Here are some of the reasons it may be better to own a property through a corporation:

  1. Protecting Your Assets and Privacy:
    • Using a corporation to own property in Costa Rica helps protect your other assets from legal problems or debts.
    • Corporations offer some privacy, but they are not completely anonymous in Costa Rica.
  2. Easier to Transfer and Pass On:
    • Transferring ownership is simpler with a corporation; you transfer shares instead of property titles.
    • Useful for passing property to family or others smoothly.
  3. Dealing with Foreign Ownership Limits:
    • Forming a corporation helps navigate rules about foreign land ownership near borders or the coast.
    • Allows non-residents to own and control certain properties indirectly.
  4. Good for Business:
    • Owning property through a corporation simplifies business activities like partnerships and acquiring multiple properties.
  5. Estate Planning and Taxes:
    • Corporations help in planning for the future and passing property to heirs.
    • Talk to a local tax advisor to understand potential tax benefits.
  6. Following Rules and Regulations:
    • Corporate ownership requires adherence to specific rules, including regular meetings and record-keeping.
  7. Impacts on Residency and Visas:

In conclusion, it is essential for individuals to seek legal advice from professionals familiar with Costa Rican real estate laws and regulations to make informed decisions based on their specific needs and circumstances.

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